Guideline Value for Kasthuri Estate MainRoad

Kasthuri Estate MainRoad guideline value

The current guideline value of Kasthuri Estate MainRoad is Rs 17,500 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village under the Chennai Central Joint I SRO, with a land classification of Residential Special Type - III.

How the guideline value of Kasthuri Estate MainRoad has changed

The guideline value for Kasthuri Estate MainRoad has seen several revisions over the years. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the value was Rs 16,000 per sq.ft, and it increased by 9% to Rs 17,500 per sq.ft in the 2024 revision.

This increase from 2023 to 2024 represents a significant change in the guideline value. The current rate reflects the ongoing adjustments made by the Registration Department to align with market conditions.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Kasthuri Estate MainRoad above this median.

• Kasthuri Estate 3rd Street: Rs 17,500 per sq.ft (2024)
• Kasthuri Estate 3rd Lane: Rs 17,500 per sq.ft (2024)
• Kasthuri Estate 2nd Street: Rs 17,500 per sq.ft (2024)
• Kasthuri Estate 1st Street: Rs 17,500 per sq.ft (2024)
• Kasthuri Estate: Rs 17,500 per sq.ft (2024)
• Kasthuri Ranga 1st Lane: Rs 17,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kasthuri Estate MainRoad

For a 1,000 sq.ft plot at the current guideline value of Rs 17,500 per sq.ft, the total guideline value amounts to Rs 1,75,00,000. The stamp duty at 7% would be Rs 12,25,000, and the registration fee at 2% would be Rs 3,50,000, totaling to Rs 15,75,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kasthuri Estate MainRoad?

The Sub Registrar Office that covers Kasthuri Estate MainRoad is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a critical factor when registering property transactions in Mylapore Part 1. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the property transfer process.

Buyers and sellers must be aware that the guideline value is used to ensure that the registration fees reflect the current market conditions. This helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Kasthuri Estate MainRoad?

The current guideline value of Kasthuri Estate MainRoad is Rs 17,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Kasthuri Estate MainRoad was Rs 16,000 per sq.ft in 2023 and increased to Rs 17,500 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Mylapore Part 1?

The median guideline value for streets in Mylapore Part 1 is Rs 8,800 per sq.ft. Kasthuri Estate MainRoad's current value is above this median.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is charged at 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Where can I find the Sub Registrar Office for Kasthuri Estate MainRoad?

The Sub Registrar Office for Kasthuri Estate MainRoad is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find more information about your SRO through the provided link.